Segastill bidding strongly for Japan’s IR projectThecompany wants to build the entire resortSegais working on streamlining its finances
Segais interested in building the first of the three Integrated Resortsin Japan and is looking for a permit from Osaka’s authorities andJapan’s national government.
Sega’sPlans for Japan’s IR Remain Determined
Theinterest in the future JapaneseIntegrate Resort (IR)is not subsiding in the slightest and SegaSammy Holdings Incbelieves that the company has a very good claim to enter the project.
Assessing its South Korean bid, Sega now believes to be in a good position to move in on Japan’s upcoming large-scale project described as an “unprecedented” long-term opportunity for investors. Sega is a company that develops a number of pachinko machines and casino games that constitute the bulk of its portfolio.
The company feels particularly confident in its IR prospects as a recent earnings call has revealed earlier in March 31, 2019. According to Sega, the company is the only Japanese entity interested in creating a grand plan for the casino that features the casino operations. It’s this “native” affiliation Sega carries that gives it a significant advantage in any future dealings with the IR, the company’s management estimates.
Meanwhile, the first Integrated Resort project (out of three permissible on the territory of Japan) will need to be completed by 2025 to coincide with the World Expo. This time-frame would require surgical precision believes MGM boss Jim Murren.
Twomore projects will follow later. So far, Osaka has shaped itself asthe pre 7BALL CC fecture that will host the first of the super-projects. theJapanese national government will also need to give its approvalwhile thelist of applicants has been revealed.
SegaPushes for a Seat at the Main Table in the IR
Sega is interested in being one of the licensees for the Integrated Resort project, says Chairman and Executive Director at the company Hajime Satomi. Meanwhile, Sega has an ongoing and fruitful partnership with Paradise Co Ltd in South Korea.
Sega is not really planning to go it alone either. In Mr. Satomi’s account, the company’s prepared to work with an overseas operator if that would help the company secure a permit to design the project:
Weare currently working on efforts to form a consortium by increasingthe number of companies who endorse our policy described above forsubmitting a request for proposal in the region. Depending on thesituation, we may also partner with operators based overseas.
Atthe same time, the company is trying to streamline its own corporateand financial structure that would allow it to take a more activerole in the domestic gaming market. The company has added JPY300billion incash and deposits.
Segahas acknowledge that the company has a lot of expenses to cover as itis also a supplier of iGaming and land-based casinos.Thecompany would potentially need as much as US$12billionto build a fully-fledged integrate resort which would definitelyrequire a lot of landing from investors.
